HP begins search for new CEO

Hardware giant appoints headhunters to find a replacement for Mark Hurd
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Hewlett-Packard has begun the search for a new CEO after the surprise resignation of chief exec Mark Hurd earlier this month.

Hurd stepped down from his position following allegations he had a relationship with Jodie Fisher, a marketing contractor hired by the firm, and filed improper expense claims.

HP has now taken on executive recruitment firm Spencer Stuart to conduct the search for a new CEO, Reuters reports. Sources have said up to $1 million could be spent on finding the right person for the job.

HP's PC division chief Todd Bradley, EMC's Pat Gelsinger, IBM's Steve Mills, Microsoft's Stephen Elop and Motorola's Greg Brown are among the names believed to be in the running.

According to Reuters, the firm could make the appointment in time for its analyst meeting in late September.

HP director John Hammergren is chairing the search committee, which also includes directors Marc Andreessen, Laurence Babbio Jr, and Joel Hyatt. Hammergren said that the group is aiming to conduct a "swift, thorough and confidential search process”.

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